The Oscar for Obfuscating Stupidity goes to……..
“It is sometimes the height of wisdom to feign stupidity.”
— Cato the Elder
For readers – the term Obfuscating Stupidity – is sometimes known as “playing dumb”, a tactic whose effectiveness is predicated on characters convincing others they are complete oafs and therefore harmless.
Acting like ignorantly misinformed
The opposite of is a stupid character who pretends (or tries to pretend) that he or she is really smart or otherwise good at something.
The stupid characters will either enlist a smart character to feed them lines, or bluff their way through with seemingly profound statements.
The latter tend to show up in characters that are so dumb, they don’t even realize that Dumb Is Good.
Well – first of all the nominations for the are
* Donald Trump – Gentlemen Snarker
Image courtesy of thelastofthemilleniums
* Ralph Nader – Rich idiot with no day job.
Image courtesy of Resist.com
* Janet Yellen – Seemingly profound fool.
Image courtesy of Getty Images.
Now ladies and gentlemen the nominees reasons for surpassing all others to reach this pinnacle of absurdity.
Donald Trump – on Yellen he states “that keeping these interest rates at this level … this is a political thing. When they get raised, perhaps with the next president, you’re going to see some bad things happen.” (1)
Mr. Trump said this in an interview with Bloomberg TV. Political and point scoring as interest rates have been at low levels for nearly a decade and he himself has taken advantage of the situation.
Bad things have happened and he cannot see the wood for the trees. His only interest is personal in that should he become President …”they are trying to put the recession, which could be a beauty, into the next administration, and that’s not fair.”
For whom Donald?
Ralph Nader – on Yellen states “Tediously over dramatic decision”…on interest rates ….You ..”lecture us about the Fed not being “political.” When you are the captives of the financial industry, led by the too-big-to-fail banks, you are generically “
“We are tired of this melodrama that exploits so many people who used to rely on interest income to pay some of their essential bills. Think about the elderly among us who need to supplement their social security checks every month.”(1)
It should be noted that Ralph Nader has taken advantage of the low interest rates too – but he himself, is a wordsmith who misses the point and lays the blame at the too big to fail banks. This after the horse bolted – it was the Quantitative Easing that directly assisted the too big to fail.
If one looks at these “too big to fail banks” the low interest rate regime is not assisting their profitability.
It must be mentioned at this juncture – to which he is fully aware – is that the G20 have agreed to the simple fact that ‘no government shall bail out any Bank(s)’…now verboten!
Yes in Germany – security a tad tight – so permissible to use German words.
Janet Yellen – on Yellen and the Fed “Let me close by assuring you that, as directed by the Congress, we focus squarely on policies that improve the lives of all Americans by fostering maximum employment and stable prices. That is the surest contribution we can make to promote the welfare of savers or any other group in society.” (2)
Well which fool ignores the obvious, the actual situation is that low interest rates have a profound effect on all savers, retirees, pension and superannuation funds.
All savers globally – not only in America – as the butterfly effect on the introduction of low interest rates and Quantitative Easing created a global debt tsunami – whereby every country entered into a race to the bottom.
The Fed Reserve through incompetence and ignorance of history did nothing to address global debt – just made matters worse with countries and companies seeking to refinance on lower rates and borrowing more.
Japan has been doing this for in excess of 25 years and they are still in recession – like hello – Yellen knew this when the policies were introduced and allowed the reduction in rates and thereafter continued with the practice.
Her last argument in September was that low interest rates (from a ‘selected’ Fed report) did not adversely affect any financial class.
Chart courtesy of Bloomberg.
Bollocks Yellen – Bollocks – proof you are a profound fool.
This lady is losing all credibility, Trump is a political twit and so therefore
the Oscar for Obfuscating Stupidity goes to Ralph Nader.
About time you got a job Ralph – your bond investments are not bringing in the income to sustain your lifestyle.
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